I'm not totally against the idea, but it makes you wonder why he wasn't appointed last year (should he get appointed). He didn't exactly gain much being at Derby for a year.
He could go back to Portugal (club side or the NT if things don't end well in the Nations League). There's no chance he'll be able to do anything without a chequebook & he needs to work his way up IMO. No notable club should be looking twice at him right now.